Cidara Therapeutics (NASDAQ:CDTX) Releases Earnings Results, Misses Estimates By $0.10 EPS

Cidara Therapeutics (NASDAQ:CDTX) posted its earnings results on Thursday. The biotechnology company reported ($5.38) EPS for the quarter, missing the consensus estimate of ($5.28) by ($0.10), Zacks reports. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%.

Cidara Therapeutics Trading Up 0.5 %

Shares of NASDAQ CDTX traded up $0.11 during midday trading on Thursday, reaching $23.61. 51,232 shares of the company were exchanged, compared to its average volume of 110,633. The stock has a fifty day simple moving average of $22.51 and a 200 day simple moving average of $17.33. The stock has a market cap of $166.38 million, a P/E ratio of -0.93 and a beta of 0.94. Cidara Therapeutics has a 1 year low of $10.00 and a 1 year high of $28.42.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $24.00 price objective on shares of Cidara Therapeutics in a report on Monday, November 11th. StockNews.com lowered shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Guggenheim initiated coverage on shares of Cidara Therapeutics in a research report on Friday, November 8th. They set a “buy” rating and a $33.00 price objective for the company. Royal Bank of Canada started coverage on shares of Cidara Therapeutics in a report on Friday, December 13th. They issued an “outperform” rating and a $34.00 target price for the company. Finally, Cantor Fitzgerald upgraded shares of Cidara Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Cidara Therapeutics currently has an average rating of “Buy” and a consensus target price of $32.20.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.